Word: benedum
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Dates: during 1940-1949
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...depth of the oil-saturated strata (about 1,700 ft., the deepest of its kind ever found), caused experts to guess that the pool may contain a minimum of 50 million barrels, a maximum of 600 million barrels. In honor of Old Mike, the area was named Benedum Field...
...rough, tough Mike Benedum, "greatest wildcatter in the world," wanted just one more big strike. His Plymouth Oil Co. had leased 800 acres in desolate Upton County in western Texas and started to drill for oil. Plymouth drilled down 10,000 ft. and lost $1,000,000 before it quit. That...
Though the credit for it was only partly his, Michael L. (for Late, after the doctor who delivered him) Benedum amply deserved the tribute. He started in the oil business at the age of 20 with $500 in cash and a million dollars' worth of nerve. Along with the late Joe Clifton Trees, the technical brains of a lifelong partnership, he struck his first oil in West Virginia...
...Mike Benedum prowled the world in search of oil, losing fortunes in Peru and China, but making bigger ones on major strikes in Mexico, Colombia, Rumania. His most spectacular achievement was the discovery of the great Yates pool in Texas, in 1926. It prompted his claim that "Joe and I have unloosed more oil than anyone else." In unloosing it Benedum piled up a fortune estimated at over $80,000,000. The new strike, big as it was, proved only that a wildcatter could never quit...
Last week from Pittsburgh, where Mike runs his scattered ventures from the Benedum-Trees skyscraper, came word of a still newer Benedum venture. His recently formed Melben Oil Co., which had spent $1,000,000 exploring for oil along Texas' coast, leased 120,480 acres of tideland area from Texas for $1,383,467. From a specially equipped $500,000 float, Mike Benedum will soon start drilling under the Gulf of Mexico...